GWN Securities Inc. Invests $442,000 in GE Vernova Inc. (NYSE:GEV)

GWN Securities Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,344 shares of the company’s stock, valued at approximately $442,000.

A number of other large investors have also recently made changes to their positions in GEV. Howard Capital Management Group LLC bought a new position in shares of GE Vernova in the third quarter worth $213,000. Atria Investments Inc boosted its holdings in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after acquiring an additional 2,847 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova in the third quarter worth $758,000. Oppenheimer & Co. Inc. boosted its holdings in shares of GE Vernova by 3.2% in the third quarter. Oppenheimer & Co. Inc. now owns 6,457 shares of the company’s stock worth $1,646,000 after acquiring an additional 200 shares during the period. Finally, KBC Group NV boosted its holdings in shares of GE Vernova by 13.7% in the third quarter. KBC Group NV now owns 37,126 shares of the company’s stock worth $9,466,000 after acquiring an additional 4,460 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEV shares. JPMorgan Chase & Co. raised their price target on GE Vernova from $374.00 to $436.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. The Goldman Sachs Group lifted their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 24th. William Blair reissued an “outperform” rating on shares of GE Vernova in a research note on Thursday, January 23rd. Truist Financial lifted their price objective on GE Vernova from $420.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on GE Vernova from $385.00 to $411.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $349.02.

GE Vernova Price Performance

GEV opened at $313.76 on Monday. The business has a 50 day simple moving average of $355.75 and a two-hundred day simple moving average of $314.43. The firm has a market capitalization of $86.57 billion and a price-to-earnings ratio of 56.43. GE Vernova Inc. has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova declared that its board has approved a share repurchase plan on Tuesday, December 10th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.